Exam 7: Serving Global Markets

Administrative barriers are more subtle than tariffs.

Discuss the product and promotional strategies that might be applied in a specific foreign market.

The most common reasons cited by marketers for going global include new customers in emerging markets and reduced trade barriers.

What countries are involved in the North American Free Trade Agreement (NAFTA)?

Explain the difference between a franchise and a foreign licensing agreement. Which arrangement do firms such as McDonald's use to enter foreign markets?

What are some ways to facilitate exporting to a foreign market?

What is the term for an arrangement in which a small firm teams with, and serves as a subcontractor for, a larger international company on a foreign project?

What is a company's first step toward successful global marketing?

What is a characteristic that many North American economies have for products that result in increased importance of global trade?

Global trade is not as important to Canada and the United States due to the fact that these two economies are still in the infancy stage.

A North American company has created a North American product ad that includes the use of a handshake. The use of a handshake may be seen as offensive by some countries overseas, where the product is also sold. What will most likely occur?

Which of the following markets are strong for a nation with low per-capita incomes?

Which of the following is an advantage of foreign licensing over exporting?

Modifying the control panel of a washing machine to accommodate cultures that read right to left would be considered a form of select product invention.

The Organization of Petroleum Exporting Countries (OPEC) is a collective export organization.

Which industry has seen a steady growth in Canada in the recent years with more than 75 percent of Canadians now working in it?

The recently ratified Treaty of Lisbon enables the EU to enter into international agreements as a political entity.

Although the European Union has attempted to simplify transactions among members, marketers still face the challenges of the fact that there is no uniform postal or telephone system.

What is the international market-entry strategy that involves high levels of involvement and risk potential and also offers a competitive advantage over other alternatives?

Foreign marketers consider Canada an attractive choice because it offers access to the North American market, high levels of discretionary income, and political stability.